Latham & Watkins Represents Vitol and VGMobility in Multi-Tranche Financing
Latham & Watkins advised on the multi-tranche financing which includes an accordion feature designed to allow VGMobility to add new projects to the structure as it continues to grow its electric fleet in Colombia pursuant to Vitol’s worldwide strategy to provide green mobility as a service in select markets.
The initial US$95 million financing comprises two concessions held by VGMobility entities as well as an agreement with a third-party concession-holder under which VGMobility will expand the third-party fleet.
This financing – arranged and provided by Natixis, which also provided a cross-currency and interest rate hedge – follows Latham’s advice on the 2021 bridge financing by Natixis to VGMobility for its acquisition of one of the concessions from Celsia Move, a portfolio company of Grupo Argos.
The Latham deal team was led by corporate partner Guido Liniado, with associate Giancarlo Reanda. Advice was also provided on hedging matters by partner Carlos Alvarez and counsel Brett Ackerman, with associate Jackie Rugart.